IBS Journal December 2016
17
Publicity stunt of the month
to the world’s most relaxing ATM. Users will be serenaded by the string section of the Royal Philharmonic Orchestra as they check their balance and withdraw their money. The ATM, which opened mid-November, is situated in an all white room in central London featuring soft lighting and feather fans.
U
“The UK keeps its finances at arm’s length because money causes people such enormous stress and anxiety,” says Chief Executive of Atom Bank, Mark Mullen. “Atom was created to redefine the everyday relationship between customers and their money and we thought we might take some of the pain away from confronting the brutal facts when you go to the nearest hole in the wall, with live serenading courtesy of the Royal Philharmonic Orchestra.”
No fear of FinTechs Down Under
FinTech challengers. That’s according to a survey from Yell Creative, which shows that just 32% of Australian bankers believe new entrants to be a problem for the industry.
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“While there is a thriving FinTech community in Australia, we feel their impact will likely be more limited than in other global markets,” says Yell Managing Director, Nigel Roberts. “Australia has one of the strongest established financial sectors in the world. The big four banks are
ustralian banks aren’t scared of the rise of
resisting any challenge to their market share through a strategy of buying startups or partnering with them well before they can truly disrupt the industry.”
The real FinTech threat, adds Roberts, will come from companies like Apple, Google and Amazon, who will use their weight in the market to push themselves into pole position.
Alex Hamilton K new entrant, Atom Bank, is laying claim
It certainly sounds like a step up from my last couple of visits to a cash machine, which involved a sozzled tramp asking if I could ‘lend’ him a tenner, and a disgruntled mother of two who spent a good five minutes fumbling through her bag to find her card, and another few minutes attempting to remember her PIN.
Scott Thompson
www.ibsintelligence.com
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